Major Banks Beat Earnings, Wells Fargo Disappoints

by MarketNewsData

Strong numbers from all — but the market wasn’t uniformly impressed. Citi and JPMorgan delivered upside surprises and raised guidance. Wells Fargo‘s trimmed forecast spooked investors, while BlackRock‘s net outflows offset its earnings beat.

Citigroup (C)

  • EPS: Beat ($1.96 vs. $1.61 est.)
  • Revenue: Beat ($21.67B vs. $20.94B est.)
  • Guidance: Raised full-year revenue to $84B; NII growth outlook increased to ~4%
  • Stock Close: $90.72 ▲ +3.68%

BlackRock (BLK)

  • EPS: Beat ($12.05 vs. ~$10.71 est.)
  • Revenue: Beat ($5.42B vs. ~$5.41B est.)
  • Guidance: No formal update; strong equity inflows, but total net outflows disappointed
  • Stock Close: $1,046.16 ▼ -5.88%

Bank of New York Mellon (BK)

  • EPS: Beat ($1.94 vs. $1.75 est.)
  • Revenue: Beat ($5.03B vs. $4.78B est.)
  • Guidance: No formal change; capital return and asset growth in focus
  • Stock Close: $95.16 ▼ -0.09%

Wells Fargo (WFC)

  • EPS: Beat ($1.60 vs. $1.41 est.)
  • Revenue: Beat ($20.82B vs. $20.78B est.)
  • Guidance: Cut full-year NII forecast to flat vs. 2024
  • Stock Close: $78.86 ▼ -5.48%

JPMorgan Chase (JPM)

  • EPS: Beat ($4.96 vs. $4.48 est.)
  • Revenue: Beat ($44.91B vs. ~$44.0B est.)
  • Guidance: Raised NII forecast to $95.5B; $50B buyback plan and dividend increase
  • Stock Close: $286.55 ▼ -0.74%

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